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TMI BlogSeeking ClarificationX X X X Extracts X X X X X X X X Extracts X X X X ..... I would like to request , if someone told me the formalities / procedure related the following issue . I need to import some materials from china the same materials to be export . Shall I need to pay import duty . Then my total costing will be effected . Kindly advice . If any bond can resolve the issue then what will be the formalities . - Reply By Ramaswamy S - The Reply = it appears i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is trading. BCD +IGST payable. May be exported on payment of IGST and claim refund of IGST paid on export of the goods. Alternatively, drawback under Section 74 of Customs Act may be claimed, if identification issues can be established. - Reply By Chandan De - The Reply = Dear Mr. Ramaswamy S Thanks for your support. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = I also endorse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the views of Shri Ramasamy. - Reply By Interface Connectronics - The Reply = You can Import and Bond the items in a customs bonded warehouse on arrival of the cargo. No payment of duty is to be done. You have to execute a Double Duty Bond on Stamp Paper. Once Bonded, You can approach customs for permission to export from the bonded warehouse. Once permitted you can export the cargo.No Duty pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment involved. - Reply By Kishan Barai - The Reply = Even if you import in custom bonded warehouse, bank guarantee has to be given, so best option would be Switch B/L Transactions as goods would be exported directly via it under your firm name. - Reply By KASTURI SETHI - The Reply = Perfect and convincing reply by Sh.S.Ramaswamy, an expert. - Seeking Clarification - Query Started By: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Chandan De Dated:- 10-11-2017 Customs - Import - Export - Customs - SEZ - Got 6 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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